Bitcoin pinned to hit $160,000 this year, we haven't seen 2021 'highs'

Bitcoin is suffering at the moment, but according to one CEO, that suffering will subside, and the price of BTC will hit $160,000.

57 seconds read time

The price of Bitcoin (BTC) is suffering, and everyone that is involved in the cryptocurrency market has felt its effects.

However, the suffering of BTC's price may come to an end relatively soon, or at least according to Celsius, a centralized cryptocurrency lending platform CEO Alex Mashinsky. The Celsius head has pinned BTC to reach $160,000 before the end of the year, saying to Cointelegraph that "we haven't seen the highs yet for 2021". Additionally, Mashinsky said that in the past, he called that the price of BTC will correct and that this happens when "When you go too high, too fast".

Mashinsky goes on to use a metaphor for the price of BTC, saying that BTC is much like a spring "Bitcoin is like a spring - we stretch it too much and we put too much leverage. Too many people got greedy." Using Mashinsky's metaphor, it seemingly appears the current stage of the market is after the spring has reached the apex of its stretch and has now recoiled back to its normal tension. For more information on this story, check out this link here.

Bitcoin pinned to hit $160,000 this year, we haven't seen 2021 'highs' 01
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Jak joined the TweakTown team in 2017 and has since reviewed 100s of new tech products and kept us informed daily on the latest science, space, and artificial intelligence news. Jak's love for science, space, and technology, and, more specifically, PC gaming, began at 10 years old. It was the day his dad showed him how to play Age of Empires on an old Compaq PC. Ever since that day, Jak fell in love with games and the progression of the technology industry in all its forms. Instead of typical FPS, Jak holds a very special spot in his heart for RTS games.

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